Panama or the better Singapore of the America's
Welcome to the “Singapore of Latin America” where Real Growth of GNP is 6% to 9% annually.
One huge reason for Panama’s role as a global trading and financial center is its location at the center of two oceans and two continents. The recent passing of the U.S.- Panama Free Trade Agreement will only deepen its rising financial and trade role in tying the two continents more closely together.
And though when we think of safe havens and offshore banking centers, Switzerland most often comes to mind, Panama is another great option just a short flight from America. The result of all this good stuff is an economy that has grown at an 8% clip over the past five years.
The Republic of Panama is booming not just because of lucky geography and a smart free-market but also because investment-friendly policies have sharpened its advantages...
- Panama’s currency is the Balboa which is pegged to the U.S. dollar, and this makes investing in the country easy. But if something happens to the U.S. Dollar, Panama can (and will) switch to the Balboa overnight.
- Banking and communication services are world class. Banks must by law maintain a reserve ratio of min. 30%
- Panama has launched a five-year, $13.6 billion investment plan, focusing on schools, hospitals, sewerage, roads, and metro transit systems.
- Panama’s import tariffs are among the lowest in Latin America, and the country has received foreign direct investment worth nearly 9% of GDP.
- Panama is a well-regarded tax haven, and its 130 banks offer a high degree of privacy. Panama does not belong to the list of 51 countries which have agreed to automatically exchange information starting in 2016.
- There is no tax on interest earned from bank accounts for locals or foreigners.
- There are no corporate or personal taxes on offshore activity.
- Residents pay no local taxes on their foreign earned income.
- In Panama, any legal resident may buy and own property. Retirees don’t have to pay property taxes until they sell their homes. On new homes, there is a 20-year tax holiday.
- Many Multi-Nationals are moving their HQ to Panama. Disney recently bought some consistent number of acres on the Pacific Coast.
Your second Permanent Residence in Panama (click on the picture to open the file and scroll down the pdf file)
A construction boom is also changing the landscape of Panama City. There are dozens of office towers going up, including the Trump Ocean Club and Latin America’s first Waldorf-Astoria: the Panamera. Oh, I almost forgot to mention the doubling of the capacity of the Panama Canal.
The Panama Canal’s annual revenues have grown to over $2 billion (7.5% of GDP). Traffic and revenue were up about 25% in 2013, and this has produced a ripple of growth in many related businesses such as insurance, ship maintenance and repair, trade finance, and banking. The canal and Panama’s business-friendly regulations have expanded big insurance, finance, and legal offshore industries. The free-trade zone in Colón on the Atlantic end of the canal and Balboa, Panama’s Pacific-side trade gateway, have recently become Latin America’s two busiest ports.
Last but not least, Panama does not make part of the 51 countries where the 2016 automatic bank-fiscal exchange will be implemented. A random walk through the list shows the times of Andorra, Liechtenstein, Switzerland, Gibraltar, Luxemburg, Curacao, Singapore, Moldavia, Belize, ... are over
|If you knew what we know, you would leave Europe & the USA Today!
51 countries where Anno 2016 the automatic fiscal information exchange will be implemented.
Verenigd Koninkrijk – United Kingdom
Verenigde Staten van Amerika – U.S.A.
Zuid-Afrika - South-Africa
Zuid-Korea - South-Korea
Zweden - Sweden
Zwitserland - Switzerland
United States of America:
Ten benefits of a Panama corporation & don't forget that the day comes you will have to sell your physical gold in an hostile environment
A Panama corporation is the ideal legal entity to conduct business in Panama and abroad. Here are ten benefits a Panama corporation offers:
- Asset Protection: A Panama corporation provides complete asset protection where one or more corporations can serve as a holding for one's assets. "Asset protection" refers to the ability to shift ownership of all valuable properties to anonymous legal entities while allowing the original owner to maintain control of them. "Valuable properties" refers to real estate, bank accounts, securities, jewelry, precious metals, vehicles, and other valuable physical objects.
- No Taxes: Panama is a "tax haven" where any profits earned outside of Panama are not taxed by the government. Panama is doing extremely well thanks to the idiot leaders in Venezuela, Argentina, the USA, Canada and Europe which are taxing their citizens to death in an ultimate effort to survive. Even after 2018 it doesn't plan to play this vicious banking and fiscal exchange game.
- Estate Planning: One can avoid expensive and time-consuming Probate by placing ownership of all assets into one or more Panama corporations. A Panama Private Interest Foundation may serve as a holding entity for shares of one or more Panama corporations, eliminating the need for a living will as the appointed beneficiaries of the Foundation take over control of the Foundation's assets upon the death of its Protector.
- Lawsuit Protection: Panama corporations owning all assets provide Lawsuit Protection. No one wants to go through the expense and time to sue someone who owns nothing. This is known amongst lawyers as being "Judgment Proof."
- Anonymous Ownership: Panama laws allow for total secrecy and privacy regarding ownership of their corporations and foundations.
- No Business Licenses: A Panama Corporation can conduct business exclusively outside of Panama without needing a business license in Panama. Many Panama corporations sell products and services online around the world, for example trading goods between other countries.
- Inexpensive: Setting up a Panama corporation involves low government annual renewal fees and taxes. Lawyer's fees are affordable and plain cheap compared to what is charged in North-America and Europe.
- Convenient: Some law firms offer "shelf" corporations or you can take over a corporation founded in for example 1999. A new corporation can be set up in as little as two weeks, and we can set them up for foreigners without having to visit Panama.
- Communication: in English, Dutch, French or German and Spanish and all important documentation is translated in English.
- One contact does it all: no need to talk to several lawyers and/or bankers out of different countries. International legal and banking matters request the expertise of somebody with international experience in these fields. And this is exactly what you get.
A Panama foundation (under construction)